The Enduring Consequences of Unemployment
March 29, 2012 10:54 AM Subscribe
The Enduring Consequences of Unemployment.
posted by storybored (83 comments total)
30 users marked this as a favorite
It is perhaps no surprise that "....workers who lost jobs during the recession of the early 1980s were making 20 percent less than their peers two decades later." Or that unemployment is also bad for your health.... "lA worker laid off at age 40 could expect to die at least a year sooner than his peers." What frames the issue starkly though is that unemployed people gradually lost the ability to read.
"If a person had stronger reading skills than 30 percent of Swedes when they lost their job, one year later their skills were stronger than just 25 percent of Swedes. Their reading comprehension score dropped by about five percentiles."
Graphs of U.S. Unemployment
. Check out in particular the first graph which compares the current recession against previous post-WWII recessions. And the seventh and eighth graphs that shows the increase in long term unemployed and their educational levels.